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TVS Emerald and ASK Group join hands

ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group and Emerald Haven Realty Limited (TVS Emerald), the real estate arm of TVS Motor Company have partnered to set up Rs. 400 Cr. real estate investment platform.

 

The partnership is announced at a crucial time that signifies the opportunities and growth potential in the affordable and mid- segment real estate market.  ASK PIA and Emerald Haven Realty will jointly infuse equity capital of Rs. 400 Cr. The capital raised will be invested in multiple affordable mid-segment projects.  Through this platform the partnership has also announced its first investment in the growth corridor of Porur in Chennai.  The project is going to get developed on a 10 acre land parcel having 5,48,000 sq ft of saleable area with the equity investment of Rs. 83 Cr. The area is strategically located with proximity to job markets and well connected to other parts of the city. 

 

Mr Amit Bhagat, MD & CEO, ASK Property Investment Advisors (ASK PIA) said, “We at ASK PIA strongly believe that affordable and mid- segment market offers huge growth potential and this is in sync with the TVS Emerald’s core purpose of providing better living space to the urban middle class. The collaboration leverages each other’s strength while ASK PIA is synonymous with high quality research, comprehensive risk management framework and focused asset management, TVS Emerald brings in quality, and high brand equity amongst consumers. All this makes a win- win situation for both customers and investors.”

 

Speaking on the partnership, Mr. Sunil Rohokale, MD & CEO, ASK Group commented, “We at ASK have always believed that collaboration and cooperation are important for business growth strategy.  TVS Emerald is emerging as a leading player in housing in Chennai and demonstrated their commitment to quality, timely delivery and customer service. This alliance reaffirms and reiterates ASK PIAs conviction of developing sound partnerships, identifying growth potential and delivering superior risk adjusted returns. I am delighted to join hands with a trusted partner like TVS Emerald and continue to build on core values of transparency and customer centricity.  This platform is poised to get benefited in the heighted regulatory regime of RERA through focus execution and satisfying customer needs.”

 

Mr. R. Chandramouli, President & CEO, TVS Emerald commented, “Experience, Expertise, Enthusiasm, and Knowledge that ASK PIA team brings will surely add to the value proposition that TVS Emerald has always envisioned to deliver to our customers.  Our endeavour is always to delight customer by fulfilling aspiration of the urban middle class in their quest for a better living space.”

 

About ASK Property Investment Advisors

ASK Property Investment Advisors (ASK PIA) is a venture of the ASK group set up to manage and advise real estate dedicated funds.  This initiative of the group rests on the backbone of extensive investment and asset management expertise backed by strong research focus.  The real estate team has over 100 man years of cumulative experience and comprises some of the best professionals with mortgage finance, real estate, construction and asset management experience.  ASK PIA raised Rs 326 Cr. under tough market conditions in the period March 2009 to December 2009.  It raised second domestic fund of Rs 1,000 Cr. in 2011 and a third domestic fund of RS.1,400 Cr. in 2016.  ASK Group has also raised Rs. 500 Cr. (USD $ 82 mn) for its maiden offshore fund.  The company has also raised structured debt of over Rs 575 Cr. for some of the most reputed and financially prudent developers which are fully prepaid.

 

 

About ASK Group

The ASK Group is a renowned Financial Services Group, and today is a leading player in the Wealth & Investment Management business, and manages the wealth & investment needs of some of the most affluent families in India.  With over three decades of presence in India, ASK group has been a true believer in the Indian growth story and over the years has grown hand-in-hand with its clients across the globe.  The group is represented in India through its four key businesses: Wealth Advisory and MultiFamily Office Service – ASK Wealth Advisors, Portfolio Management Services – ASK Investment Managers, Real Estate Private Equity – ASK Property Investment Advisors and Private Equity Management – ASK Pravi Capital Advisors.  It has 9 offices in India through which it services the needs of clients across the country.  Through its office in Dubai the group manages clients in GCC & Africa and through its office in Singapore it manages real estate and equity investments made in India. ASK group manages assets of approximately Rs 37,311 Cr. (~US $5.8 Bn).

 

About TVS Emerald

TVS Emerald has been promoted by the TVS Motor Company with the vision of catering to the aspirational Indian middle class in their quest for quality living spaces. TVS Emerald has already completed and delivered one project before schedule and is currently developing 5 more projects in and around Chennai. TVS Emerald plans to further expand its presence in Chennai and Bangalore in the near future.

 

Sep 14, 2017
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